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Family, Business and Death: What Happens When a Business Owner Dies

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You probably expect your business to provide for your family when you die—but don’t think that “leaving everything” to your family guarantees their financial security. A simple misstep now could see your loved ones and your business stranded when you pass. That’s because the laws surrounding death and business can clash with surprising consequences. This…

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Why Estate Planning is Essential

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Many people think that a last will and testament ensures that your final wishes will be carried out— only to have their loved ones pay the price for ineffective estate planning. If you own a business or shares, especially, estate planning is crucial! Without it, your will could be inexecutable, leaving your dependants and enterprise…

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The Significance of Internal Control Accounting Systems

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When comparing accounting providers, you may see “internal control” listed as a service and wonder what the significance of this deliverable is. The term internal control is used for accounting systems that can add tremendous benefit to your business. How Internal Controls Improve Auditing Procedures, Financial Integrity and Operational Efficiency There are numerous advantages of…

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SARS Tax Season 2020 Updates: What You Need to Know

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Important Notes For Personal Income Tax and Company Income Tax Taxpayers In May this year, the Commissioner of the South African Revenue Service (SARS) announced changes to the 2019/2020 tax filing season for individual taxpayers. The mainly operational changes come as a response to the effects of the COVID-19 pandemic and social distancing requirements. They…

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Cash Flow Management and Cloud-Based Accounting

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Improved Cash Flow Management and Cost-Savings Enabled by Cloud-Based Systems There’s no denying the harrowing economic effects of COVID-19 in South Africa. Regardless of sector or size, all business owners are focused on ensuring their organisations’ short, medium and long-term survival. Thankfully, the same systems that enable remote working for the safety of individuals are…

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Struggling with TERS and UIF applications? Your Questions Answered

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Many employers throughout South Africa are still grappling with the ins and outs of the Temporary Employer/Employee Relief Scheme (TERS). In this post, we answer your most frequently asked questions.   What is TERS? TERS—the COVID-19 Temporary Employer/Employee Relief Scheme—is a unique benefit set up by The Department of Employment and Labour during the National…

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COVID-19 and applicable relief

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Background COVID-19 has brought about unprecedented uncertainty in South Africa and in this article, we will discuss some of the material relief measures that have been instituted by the South African Government (the “Government”) to provide essential assistance to employers and employees of businesses impacted by COVID-19. Before we consider the nature and scope of…

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How Financial Audits Boost Business

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Financial Audit: The Multi-Tasking Business Booster Historically, financial audits have carried the reputation of being “dreaded” and “burdensome”. Something you only complete if it is required by law. The idea of a voluntary audit seems absurd. Until you understand the multiple business benefits of an audit beyond legalities compliance. Audited financials show both the shareholders…

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South African Budget Speech 2020/21

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Bite-Sized Budget 2020/21 Take-Outs for Busy Businesses The budget speech has come and gone, but what it means for business is still baffling the best of us. While Finance Minister, Tito Mboweni, delivered some good news and some bad news, his speech mainly comprised proposals. At least, as far as the private sector was concerned.…

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Not just a regular sick day: COVID-19 in the workplace

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We watched from afar how COVID-19 tightened its grip on China and then spread even further at a staggering pace. Now, it’s in South Africa and our lives have changed radically in a matter of days. Most working South Africans are asking themselves: “Is it safe to go to work?” and many employers are worried…

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